Home owners offer possibility of 50 billion crown settlement

Property owners who have filed a lawsuit against the Czech Republic at the European Court of Human Rights in Strasbourg have suggested they would be willing to agree to an out-of-court settlement of 50 billion crowns. A statement was made by the group's lawyer on Friday. The sum is the equivalent of 2.4 billion US dollars. Owners are suing the state for alleged damages incurred by the country's regulated rent system. Lawyer Klara Vesela Samkova suggested on Friday that many in the group had an interest in reaching an agreement. She said that many current owners were older citizens who had been returned property previously confiscated under communism.

Author: Jan Velinger